(1) As used in this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of:
(a) An annuity or insurance policy;
(b) An account with a designation for payment on death;
(c) A security registered in beneficiary form;
(d) A pension, profit-sharing, retirement or other employment-related benefit plan; or
(e) Any other nonprobate transfer at death.
(2) Subject to subsections (3) to (12) of this section, delivery of a disclaimer may be made by personal delivery, first class mail or any other method likely to result in receipt of the disclaimer.
(3) If the interest to be disclaimed is created under the law of intestate succession or an interest created by will, other than an interest in a testamentary trust:
(a) A disclaimer must be delivered to the personal representative of the decedent’s estate; or
(b) If a personal representative is not serving at the time the disclaimer is made, the disclaimer must be filed with a court having authority to appoint the personal representative.
(4) In the case of an interest in a testamentary trust:
(a) A disclaimer must be delivered to the trustee;
(b) If a trustee is not serving at the time the disclaimer is made but a personal representative for the decedent’s estate is serving, the disclaimer must be delivered to the personal representative; or
(c) If neither a trustee nor a personal representative is serving at the time the disclaimer is made, the disclaimer must be filed with a court having authority to enforce the trust.
(5) In the case of an interest in an inter vivos trust:
(a) A disclaimer must be delivered to the trustee serving at the time the disclaimer is made;
(b) If a trustee is not serving at the time the disclaimer is made, the disclaimer must be filed with a court having authority to enforce the trust; or
(c) If the disclaimer is made before the time the instrument creating the trust becomes irrevocable, the disclaimer must be delivered to the settlor of a revocable trust or the transferor of the interest.
(6) In the case of an interest created by a beneficiary designation made before the time the designation becomes irrevocable, a disclaimer must be delivered to the person making the beneficiary designation.
(7) In the case of an interest created by a beneficiary designation made after the time the designation becomes irrevocable, a disclaimer must be delivered to the person obligated to distribute the interest.
(8) In the case of a disclaimer by a surviving holder of jointly held property, the disclaimer must be delivered to the person to whom the disclaimed interest passes.
(9) In the case of a disclaimer by a person who is an object of an exercise of a power of appointment or a taker in default of an exercise of a power of appointment at any time after the power was created:
(a) The disclaimer must be delivered to the holder of the power or to the fiduciary acting under the instrument that created the power; or
(b) If a fiduciary is not serving at the time the disclaimer is made, the disclaimer must be filed with a court having authority to appoint the fiduciary.
(10) In the case of a disclaimer by an appointee of a nonfiduciary power of appointment:
(a) The disclaimer must be delivered to the holder of the power, the personal representative of the holder’s estate or to the fiduciary under the instrument that created the power; or
(b) If a fiduciary is not serving at the time the disclaimer is made, the disclaimer must be filed with a court having authority to appoint the fiduciary.
(11) In the case of a disclaimer by a fiduciary of a power over a trust or estate, the disclaimer must be delivered as provided in subsection (3), (4) or (5) of this section as if the power disclaimed were an interest in property.
(12) In the case of a disclaimer of a power by an agent, the disclaimer must be delivered to the principal or the principal’s representative. [2001 c.245 §12]
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